Ameresco (AMRC) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Ameresco (NYSE:AMRC) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “Ameresco, Inc. is an independent provider of comprehensive energy efficiency solutions for facilities throughout North America. The Company’s solutions include upgrades to a facility’s energy infrastructure, and the construction and operation of renewable energy plants. It engages in the development, design, engineering, and installation of projects that reduce the energy, as well as operation and maintenance costs of governmental, educational, utility, healthcare, and other institutional, commercial, and industrial entities facilities. Ameresco, Inc. is headquartered in Framingham, Massachusetts. “

Several other research firms have also commented on AMRC. BidaskClub lowered Ameresco from a hold rating to a sell rating in a report on Friday, October 20th. Oppenheimer reiterated a buy rating and set a $10.00 price target (up previously from $8.50) on shares of Ameresco in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $8.88.

Shares of Ameresco (NYSE AMRC) traded up $0.10 on Tuesday, reaching $8.70. 37,700 shares of the company’s stock traded hands, compared to its average volume of 41,100. Ameresco has a 52 week low of $4.80 and a 52 week high of $8.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.24 and a current ratio of 1.29. The firm has a market cap of $391.33, a PE ratio of 22.90, a PEG ratio of 2.63 and a beta of 1.13.

Ameresco (NYSE:AMRC) last posted its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. Ameresco had a return on equity of 5.42% and a net margin of 2.49%. The business had revenue of $204.74 million for the quarter, compared to analyst estimates of $186.20 million. During the same quarter in the previous year, the firm earned $0.16 EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. sell-side analysts predict that Ameresco will post 0.43 EPS for the current year.

In related news, insider Joseph P. Demanche sold 7,007 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $8.00, for a total value of $56,056.00. Following the sale, the insider now directly owns 196,625 shares in the company, valued at approximately $1,573,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph P. Demanche sold 9,471 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $8.80, for a total transaction of $83,344.80. Following the completion of the sale, the insider now owns 154,688 shares in the company, valued at $1,361,254.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,588 shares of company stock worth $444,399. Insiders own 58.36% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in Ameresco by 4.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 943,907 shares of the utilities provider’s stock valued at $7,363,000 after buying an additional 41,937 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Ameresco in the 3rd quarter valued at about $167,000. Wells Fargo & Company MN grew its position in Ameresco by 23.0% in the 3rd quarter. Wells Fargo & Company MN now owns 34,639 shares of the utilities provider’s stock valued at $270,000 after acquiring an additional 6,469 shares in the last quarter. Rock Point Advisors LLC grew its position in Ameresco by 1.0% in the 3rd quarter. Rock Point Advisors LLC now owns 819,978 shares of the utilities provider’s stock valued at $6,396,000 after acquiring an additional 8,202 shares in the last quarter. Finally, TIAA FSB acquired a new position in Ameresco in the 3rd quarter valued at about $496,000. Hedge funds and other institutional investors own 24.59% of the company’s stock.

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About Ameresco

Ameresco, Inc (Ameresco) is a provider of a range of energy services, including energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include capital and operational upgrades to a facility’s energy infrastructure and the development, construction, ownership and operation of renewable energy plants.

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